Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
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Contractual service of demand notice under the guarantee deed was treated as sufficient where the financial creditor had already invoked the personal guarantees before Section 95 proceedings, reflected that invocation in the DRT record, and annexed the invocation notice to the statutory demand notice. The tribunal held that dispatch to the last known address and certification by a responsible officer satisfied the agreed mode of service, so absence of postal acknowledgments did not defeat invocation. The appellants had also admitted the factual assertions in their rejoinder, making the service objection hyper-technical. The personal insolvency applications were therefore upheld on the basis of enforceable debt and default against the guarantors.
Contractual service of demand notice under the guarantee deed was treated as sufficient where the financial creditor had already invoked the personal guarantees before Section 95 proceedings, reflected that invocation in the DRT record, and annexed the invocation notice to the statutory demand notice. The tribunal held that dispatch to the last known address and certification by a responsible officer satisfied the agreed mode of service, so absence of postal acknowledgments did not defeat invocation. The appellants had also admitted the factual assertions in their rejoinder, making the service objection hyper-technical. The personal insolvency applications were therefore upheld on the basis of enforceable debt and default against the guarantors.
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